NEWS

BlueStone to Spend Rs. 40 Crore on Marketing This Year

BlueStone to Spend Rs. 40 Crore on Marketing This Year

Mumbai: Ratan Tata-backed BlueStone.com will invest Rs. 40 crore on marketing over the next 12 months as it looks to expand in the nascent-yet burgeoning online jewellery market in India.
The company, which introduced new facilities like home trials and chat options for prospective buyers, said it is on track to quadruple revenue to Rs. 1,000 crore by 2018.




ICEX to Launch Diamond Futures in March

ICEX to Launch Diamond Futures in March

Mumbai: The Indian Commodity Exchange (ICEX) is planning to launch three futures contracts for diamonds in March to provide exporters with a hedging tool, the exchange said recently, according to a report published in profit.ndtv.com.


Sales of Indian Gold Jewellery Drop in Gulf

Sales of Indian Gold Jewellery Drop in Gulf

Dubai: The ongoing blockade of Qatar by its neighbouring nations has raised concern among Indian jewellers who have operations in the Gulf Cooperation Council countries. Jewellers said sales dropped in the region because buyers from Qatar, who are known to prefer high value items, are absent from the market.


Belgium’s Rough Diamond Trade Strong in June

Belgium’s Rough Diamond Trade Strong in June

Antwerp: Belgium’s trade in rough diamonds followed the trend seen last month, with exports and imports rising strongly year-on-year in volume terms, though the rise in value terms was smaller, according to figures released by the Antwerp World Diamond Centre (AWDC). The polished trade however, continued to be slow, registering a drop y-o-y in both volume and value during the month.


Ratings Agency S&P Upgrades ALROSA to BB+

Ratings Agency S&P Upgrades ALROSA to BB+

Moscow: Russian diamond mining giant ALROSA, said that Standard & Poors has upgraded its long-term corporate credit rating to BB+, outlook stable.


India To Launch System to Certify Gemstone Quality

India To Launch System to Certify Gemstone Quality

New Delhi: The commerce ministry will soon launch a system similar to hallmarking of gold to certify the quality of precious gemstones. “We want consumers to know the purity of precious gemstones. Right now, there is no proper mechanism to know how testing of precious gemstones is done because of which consumers are misled,” a senior government official said.

Shadow Market for Gold Set to Gain Post GST

Shadow Market for Gold Set to Gain Post GST

Mumbai: The grey market for gold jewellery is set to thrive after the 3% GST on the yellow metal imposed by the government since July 1 this year, according to jewellers at Mumbai’s Zaveri Bazaar, reports The Tribune India.


Titan Gains Strong Jewellery Sales in Q1

Titan Gains Strong Jewellery Sales in Q1

Mumbai: Titan Company reported strong jewellery sales in the first fiscal quarter and said it expects to benefit from India’s new tax system, reports Rapaport.


GST Could Bring Down Gold Demand in India for Short Period

GST Could Bring Down Gold Demand in India for Short Period

Mumbai: An increase in taxes on gold sales in India could curb short term demand from the world's No. 2 consumer of the metal, the World Gold Council (WGC) said.


GJEPC–BDB Conduct Seminar on GST for Exporters

GJEPC–BDB Conduct Seminar on GST for Exporters

Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) in coordination with the Bharat Diamond Bourse (BDB) hosted a seminar for exporters on implications of and procedures under the new GST regime introduced by the government. A large number of exporters attended the session which was held in the bourse premises.


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